keshav1685 keshav1685

30-05-2024
Business

Answered

In which of the following types of accounts are decreases recorded by credits?
a. owner's equity
b. liabilities
c. revenues
Od. assets

Answer :

GinnyAnswer GinnyAnswer

30-05-2024

Final answer:

Liabilities are the type of accounts where decreases are recorded by credits.

Explanation:

Liabilities are the type of accounts where decreases are recorded by credits. When liabilities decrease, it results in a credit entry, as per the rules of accounting. Credits are always on the right side of the account entry, and they increase a liability or net assets account.

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